The Real Estate Institute of Western Australia has put forward a significant ten-point proposal to the State Government, aiming to tackle the pressing issues of housing affordability and supply. This comprehensive plan, submitted for the 2026-27 State Budget, seeks to create a more stable and accessible property market for all Western Australians.
Market Data and Advocacy at the Core
REIWA President Suzanne Brown emphasises the organisation's dual role in navigating the current market pressures. REIWA provides critical, up-to-date sales and rental data for Western Australia through its website, reiwa.com. This information is freely available to the public and is a trusted resource for policymakers at all levels of government, helping them understand the real conditions facing buyers, sellers, renters, and investors.
Beyond data provision, REIWA's advocacy work involves direct consultation with ministers, engagement with industry stakeholders, and the preparation of detailed research and policy papers. The latest pre-budget submission was developed with input from the REIWA council, network committees, member feedback, and insights from the REIWA Housing Issues Survey.
Key Proposals for a Fairer Market
The submission's primary focus is on improving affordability, supporting first homebuyers, and accelerating the supply of new housing. A central recommendation is to lift the stamp duty concession thresholds for first homebuyers and, crucially, link them directly to REIWA's market data. This linkage would ensure the thresholds remain relevant to actual market prices, allowing more Western Australians to enter the property market.
In a move to free up larger homes for families, REIWA has also proposed a $10,000 stamp duty concession to encourage eligible seniors to downsize. This initiative aims to motivate homeowners who may no longer need a large property to sell, thereby increasing housing stock suitable for families.
Incentives for Investors and Broader Reforms
Recognising the rental crisis, the institute is backing incentives to encourage property investors to offer affordable rentals. REIWA sees an opportunity for the State Government to provide a concession or rebate on local government rates or land tax to investors who lease their properties at below-market rents to eligible tenants.
The full set of ten proposals includes several other significant measures:
- Continuing the duty concession and rebate scheme for off-the-plan apartments.
- Taking action to improve housing supply through faster local government approvals, land titling, and utility connections.
- Implementing a new system that allows tenants to lodge bonds directly with the bond administrator, thereby reducing cybersecurity risks.
REIWA has expressed its commitment to working with the State Government, representing its members' views and experiences to achieve a stable property market for Western Australia. The full details of the submission are available on reiwa.com.
